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CPE, CLE Accredited
This is session 3 of 3 in the Masters Institute in Government Contract Cost and Pricing - Current Topics virtual course.

The Masters Institute in Government Contracts Cost and Pricing – Current Topics is an advanced program that is designed to address recent developments relating to the complex set of cost accounting rules, regulations, requirements, and practices that government contractors must address in making critical business decisions. This course, which is taught by nationally recognized, government contracting specialists, will enable you to understand the implications of recent government contract cost accounting developments and provide you with practical guidance for applying the changes resulting from recent cost accounting developments to “real-life” scenarios. Each day of The Masters Institute in Government Contracts Cost and Pricing – Current Topics will include lectures, case studies, illustrative examples, group discussions, and consideration and discussion of questions raised relating to recent government contract cost accounting developments. 

Learning Objectives
  • Understand the implications of new developments, rules and regulations to government contract cost and pricing matters, including the following:
    • FAR / DFARS proposed and final rules
    • CAS Board updates
    • FAR Part 31 Cost Principles
    • National Defense Authorization Act
    • Cases and Board decisions
    • Truthful Cost or Pricing Data statute (formerly Truth in Negotiations Act, or “TINA”)
    • Inspector General reports
  • Discuss audit and compliance issues related to cost allowability, cost allocation, DFARS Contractor Business Systems and DCAA/DCMA audits
  • Discuss new DCAA and DCMA initiatives that may impact government contract costs
  • Understand recent government efforts to treat commercial items as requiring (uncertified) cost or pricing data, including the status of a commercial item/product/service as a TINA exemption
  • Apply practical lessons learned from recent interpretations, including legal cases and directives, to cost and pricing matters
  • Understand the implications of special transactions, including terminations, restructurings, joint ventures and intercompany transactions
  • Apply lessons learned from interactive case studies and hypothetical scenarios to cost and pricing matters

This live virtual course is eligible for both CLE and CPE credit.
NOTE: CPE/CLE credit for attendees are subject to participation and approval by the governing boards.

NASBA CPE ACCREDITATION INFORMATION
Learning Level: Beginner
Prerequisites: None
Field of Study: Specialized Knowledge
Delivery Method: Group Internet Based

For more information regarding administrative policies such as refunds, cancellations and complaints, please contact Federal Publications Seminars at 888.494.3696.

West Professional Development is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:
www.nasbaregistry.org.
About Our Experts
  • Stephen Knight
    Senior Counsel, Haynes Boone
    Stephen Knight has practiced government contract law for more than 40 years, counseling and litigating on behalf of clients in all aspects of that practice. He has significant experience in claims and disputes, with special emphasis on costing and pricing issues involving cost allocability and allowability, Cost Accounting Standards, defective pricing under the Truth in Negotiations Act, and government audits. Stephen has substantial experience in compliance issues pertaining to government contractors and frequently assists clients in evaluating the requirement and manner of making disclosures to the government. He has conducted compliance reviews for clients, assisting in reviewing and evaluating internal controls, conducting training and evaluating specific compliance issues such as business systems and socio-economic requirements in government contracts. Stephen represents prime contractors as well as subcontractors in the manufacturing and services sectors and is experienced in ascertaining the necessary government contract requirements for inclusion in subcontracts.
    J.D., University of Virginia School of Law, 1978
    B.A., University of Virginia, 1975, with honors
  • Tom Reynolds
    Partner, HKA
    Tom Reynolds is a Partner in HKA’s Government Contracts Practice in Washington, D.C. Tom is a forensic accountant and CPA with 20 years of experience helping government contractors navigate the complex government contracting compliance rules and regulations. Tom has provided government contract accounting, auditing and advisory support to government contractors across numerous industries, including aerospace and defense, manufacturing, healthcare, construction, engineering, and professional services. Tom has presented contractors’ positions and facilitated negotiations with contracting officers, DCAA, DCMA, and other regulatory bodies.

    Tom has supported government contractors in connection with business systems compliance assessments, DCAA/DCMA audit support, False Claims Act disputes, merger and acquisition due diligence and post-merger integration, and indirect rate modelling and analysis. Tom deals extensively with critical government contracting regulations and requirements, including the FAR, DFARS, and CAS.
    BS, Business Administration (Accounting), Spring Hill College
    MS, Accountancy, University of Notre Dame
  • John C. Shire
    Director, Redstone Government Consulting, Inc.
    John is a Director with Redstone Government Consulting, Inc. providing government contract consulting services to our clients primarily related to the DFARS business systems, CAS Disclosure Statements, and DCAA/DCMA compliance preparation, advisory, and defense. Prior to joining Redstone Government Consulting, John served in a number of capacities with DCAA/DCMA for more than 30 years. Upon his retirement, he was based in Texas as an SES-level Corporate Audit Director for DCAA, managing a staff of 300 auditors at one of the largest DOD programs.
    John began his career in the late 80s working in the Clearwater, FL audit office and over the next three decades he progressed through a number of positions within both DCAA and DCMA with career highlights as DCAA Program Manager at Ft. Belvoir, Chief of Technical Programs Division, Deputy Assistant Director-Policy, Director of the DCMA Cost and Pricing Center, the SES-level Lockheed Martin Corporate Audit Director, and Director of Integrity and Quality Assurance.
    John’s three decades of experience in performing and leading DCAA auditors and DCMA reviewers provides a wealth of expertise to our clients. John’s role, not only in the performance of audits, but also in the development of audit policy affords him unique insights into the defense of audit findings and the linkage of audit program steps to the underlying regulatory framework. He is an expert in FAR, DFARS, and other agency acquisition regulation, as well as a subject matter expert in the Cost Accounting Standards having reviewed and provided audit feedback on many of the largest and most complex cost accounting practices during his tenure with the DCAA.

    John’s tenure with DCAA and DCMA came at a critical time during each agency’s history where a number of changes were occurring such as the response to the ICS backlog, development of audit approaches to the DFARS Business Systems and implementation of new audit initiatives as a result of Congressional oversight through the NDAA process. John’s leadership at the DCMA Cost & Pricing center saw oversight of all major DOD pricing actions, leadership of should cost review teams, the Commercial Pricing group and many other areas of strategic value to our clients. His involvement in these and other Agency initiatives is of great value to our clients due to his in depth understanding of DCAA and DCMA’s internal policy directives.
    John holds a Master of Business Administration and a B.A. in Accounting from the University of South Florida.
    Certifications
    Certified Information Systems Auditor
  • James W. Thomas
    Partner, Global Sector Lead, HKA
    James W Thomas (Jim) is a forensic accountant with 35 years of experience providing consulting and dispute resolution services to government contractors. He has been retained as an expert on more than 50 occasions.

    Jim has testified as an expert in proceedings before the Armed Services Board of Contract Appeals, Civilian Board of Contract Appeals, General Services Board of Contract Appeals, District Court and in arbitration. He has served as a neutral accountant in purchase price disputes involving government contract accounting issues.

    In addition to his expertise in aerospace and defense, Jim serves many industries including technology, engineering and professional services, industrial products, construction, retail products and healthcare. Prior to joining HKA, he was a forensic services partner specializing in government contracts with PwC.

    Jim specializes in cost and pricing matters including government audit issues, False Claims Act damages, defective pricing, labor charging, Cost Accounting Standards, cost allowability, record keeping requirements, Federal Supply Schedule contracts, claims, requests for equitable adjustment, terminations and prime/subcontractor disputes.
    He earned his BS in accounting from Penn State University and is a Certified Public Accountant in Virginia and the District of Columbia. Jim is a member of the American Institute of Certified Public Accountants and associate member of the American Bar Association. He is a frequent speaker at industry events and has published many articles on government contract cost and pricing matters.
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